spyguy Posted November 9, 2020 Share Posted November 9, 2020 One to revisit, see what it looks like in the early Covid fall out. Esp. wit hthe Everythign selling!!! Prices are going UP!!!!! EA spin NE30 Last 5 years of sales and pries. https://www.home.co.uk/guides/house_prices_report.htm?location=ne30&startmonth=06&startyear=2015&endmonth=06&endyear=2020 Last 12 months, making new trends easy to spot https://www.home.co.uk/guides/house_prices_report.htm?location=ne30&startmonth=06&startyear=2019&endmonth=06&endyear=2020 NO DETACHED HOUSE HAS SOLD IN THE LAST 3 MONTHS Numbers in for August. https://www.home.co.uk/guides/house_prices_report.htm?location=ne30&startmonth=06&startyear=2019&endmonth=08&endyear=2020 It looks like 1 - countem - detached house sold in July. Thays its for 5 months. So much for stamp duty bounce. Quote Link to comment Share on other sites More sharing options...
Tynesider Posted November 23, 2020 Share Posted November 23, 2020 Morning, long time member on here but lost access to my old account. Recently returned to Tyneside from Scotland mainly due to covid and wanting to be near our kids, thought I would have a look on here. Looking through threads from when I joined in 2008 not much has changed, back then it was very London focused and full of hatred for Kristy, advice to STR and " keep your powder dry". Loads of self congratulatory circle jerk predictions that never came true. Anyone who STR'd then in London will be weeping now. No one predicted that various govts. would do anything to keep house prices high, this is still seen as a good thing by many of the population. I have been predicting a crash since 2000 and I have been wrong, who knows with Brexit and covid we might hit a perfect storm. Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 7, 2020 Share Posted December 7, 2020 I was looking for something else and stumbled on this https://www.fca.org.uk/data/product-sales-data/mortgage-product-sales-data-geographic-area Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted January 18, 2021 Share Posted January 18, 2021 Quick update. I'll start looking at moving to Tynemouth again this year. I gave up due to COVID and stupidity of the local market. I hope one of the main estate agents in the area has gone bust, they have been quiet/ no listing / no update since October. Very little for sale, very little moving. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 25, 2021 Share Posted March 25, 2021 Latest House Price data. Newcastle bucks regional trends and posts 2.20% monthly growth Key points below for monthly % change in average house prices Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 25, 2021 Share Posted March 25, 2021 Average house prices now stand at: Quote Link to comment Share on other sites More sharing options...
17 Year Veteran Posted October 3, 2022 Share Posted October 3, 2022 Interesting. I've been checking the prices in NE1 for last few years - with a view to spending a few of my mighty Australian Dollars somewhere nearer to home. From what I can see most flats in the city itself are at or below their peak. Many have stagnated for 15 years or so. Supply of nice houses in Northumberland is also on the rise. The heating bills on those would put many people off. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 6, 2022 Share Posted October 6, 2022 On 03/10/2022 at 01:19, 17 Year Veteran said: Interesting. I've been checking the prices in NE1 for last few years - with a view to spending a few of my mighty Australian Dollars somewhere nearer to home. From what I can see most flats in the city itself are at or below their peak. Many have stagnated for 15 years or so. Supply of nice houses in Northumberland is also on the rise. The heating bills on those would put many people off. Despite prices not rising as madly around here, the salary multiples are still very high. Agreed on Northumberland big houses which will cost a lot to run. The coast is still staying mental price wise - lots of old cash buyers. Flats are still in oversupply and falling fast if you look carefully. Interesting times. Quote Link to comment Share on other sites More sharing options...
IfWeWereVampires Posted October 13, 2022 Share Posted October 13, 2022 Having grown up there, I've got half an eye on Newcastle as a potential destination for our move out of London renter hell within the next year or two. Monitoring areas like High Heaton or the edges of Gosforth, i.e. well connected to parts central without being ultra-pricey. Interesting to see EAs trumpeting some big reductions on Great Park houses recently (not that I'd necessarily want to live there - a bit distant + bland + A1 noise - but some of the houses are nice by newbuild standards and if the right price happens to pop up...). Took a brief look at the coast too, but crikey, there still seems to be a premium and a half for living anywhere near there. I wonder if that'll change any time soon or if it's enough of an "old money" place that it'll be relatively unaffected by mortgage rate developments. Quote Link to comment Share on other sites More sharing options...
17 Year Veteran Posted October 21, 2022 Share Posted October 21, 2022 On 10/13/2022 at 8:17 PM, IfWeWereVampires said: Having grown up there, I've got half an eye on Newcastle as a potential destination for our move out of London renter hell within the next year or two. Monitoring areas like High Heaton or the edges of Gosforth, i.e. well connected to parts central without being ultra-pricey. Interesting to see EAs trumpeting some big reductions on Great Park houses recently (not that I'd necessarily want to live there - a bit distant + bland + A1 noise - but some of the houses are nice by newbuild standards and if the right price happens to pop up...). Took a brief look at the coast too, but crikey, there still seems to be a premium and a half for living anywhere near there. I wonder if that'll change any time soon or if it's enough of an "old money" place that it'll be relatively unaffected by mortgage rate developments. Could be worse. Could be living inside a massive puppet: Quote Link to comment Share on other sites More sharing options...
17 Year Veteran Posted October 26, 2022 Share Posted October 26, 2022 Jesus Christ, this is overpriced. For this money you'd want at least two bedrooms and more. https://www.rightmove.co.uk/properties/128414780?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted February 6, 2023 Share Posted February 6, 2023 Update from Tynemouth/Whitley. New instructions at comedy high levels, but nothing is selling, including one particular house with sea view which would have sold within half an hour 6 months ago Quote Link to comment Share on other sites More sharing options...
a j Posted October 21, 2023 Share Posted October 21, 2023 Any updates from Newcastle? I'm considering an escape from London. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 24, 2023 Share Posted October 24, 2023 On 21/10/2023 at 22:43, a j said: Any updates from Newcastle? I'm considering an escape from London. Quite a bit of change. Sellers are still deluded, and so are agents to begin with, but the amount of cash buyers who aren't aware of what financing costs are today is dwindling, and I can see the vast majority of houses for sale being reduced. Not time to buy yet. I would say a year from now one can bargain very very hard. Quote Link to comment Share on other sites More sharing options...
Armus Posted October 24, 2023 Share Posted October 24, 2023 If coming from London then everything will seem very cheap. Ask on here for info on areas to avoid. Market seems to be a LOT of flats that apparently nobody wants to touch, then a lot of very expensive, overpriced places that I imagine few people in the region can afford. There doesn't seem to be much of a middle. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted October 25, 2023 Share Posted October 25, 2023 Nominally flat prices from basically '06 to 2019. Then covid hit... These are sold prices so they do lag but Newcastle in red (that would be a weird away kit) streaming north to catch up with English avg. Closing the gap on the "theres value up north". Dont know the area (so please dont shout lol), but Gateshead showing value? Quote Link to comment Share on other sites More sharing options...
Data Dave Posted October 25, 2023 Share Posted October 25, 2023 Here's another one for you but for terraces. Doesnt show on the scale but its up to Aug 23. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted October 25, 2023 Share Posted October 25, 2023 To have nominal price appreciate aka house price inflation you need to hit it lucky, this graph corresponds so highly to wage growth. Other than that...you'd get real price depreciation if your not careful for over 10 years historically. Meaning you make a 'good' move from the south only to sell up one day with less purchasing power than you started with potentially... Maybe thats a thing for you..maybe it isn't. Food for thought @a j with the data. Quote Link to comment Share on other sites More sharing options...
a j Posted October 30, 2023 Share Posted October 30, 2023 Many thanks to all. Hopefully I'll get a chance to spend a long weekend exploring. Got to say - some flats look lovely and with great locations, but amazingly high service charges. Makes the whole thing a lot tougher. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted October 31, 2023 Share Posted October 31, 2023 10 hours ago, a j said: but amazingly high service charges. Im with you here, some are utterly ridiculous. Eye wateringly high. If you are going to pay 1k pa in charges, over 30 years its a considerable chunk. I guess a large amount of this is swallowed up in admin fees of the firms instructed to carry out / organise the works (building repair / cleaning / roofing / car parking / bills for common areas / bins etc). Then again you can pay and have no issues, all the headaches are out sourced...🤷♂️ Quote Link to comment Share on other sites More sharing options...
Data Dave Posted October 31, 2023 Share Posted October 31, 2023 If you can sell up in the south and move north with cash - awesome! If you can sell up and buy for cash all whilst keeping your job - double awesome! 😁 FYI @ £517 a week earnings (£517*52=£26,884) in NuT with average property prices of £204,356 They trade on 7.6x ..an idea - with prices for flats and maisonettes so plateau'd for years in NuT, nominally, meaning like an inflation adj loss likely, could you not rent (dont freak out yet) and invest the money. Seemingly getting a better return than property has provided? Otherwise as I say above you run the risk of selling up one day, with less purchasing power than you started with. Quote Link to comment Share on other sites More sharing options...
a j Posted November 2, 2023 Share Posted November 2, 2023 On 31/10/2023 at 08:25, Data Dave said: Im with you here, some are utterly ridiculous. Eye wateringly high. If you are going to pay 1k pa in charges, over 30 years its a considerable chunk. I guess a large amount of this is swallowed up in admin fees of the firms instructed to carry out / organise the works (building repair / cleaning / roofing / car parking / bills for common areas / bins etc). Then again you can pay and have no issues, all the headaches are out sourced...🤷♂️ I can swallow £1000 a year. I like outsourcing building works! I see places advertised which are much more expensive for no obvious reason. https://www.rightmove.co.uk/properties/140936567#/?channel=RES_BUY £2k a year for ground rent and service charge. Another one which would be at least £2k: https://www.rightmove.co.uk/properties/141313370#/?channel=RES_BUY There are some (perhaps due to lifts?) which are well over £3k a year. Maybe that keeps the prices lower? From a rough look I'd say the average service charges/ ground rents in Newcastle are much more than equivalent sized flats I've seen in great London and the South East. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted November 2, 2023 Share Posted November 2, 2023 (edited) 1 hour ago, a j said: like outsourcing building works! 👍👍 certainly easier 🤓😊 1 hour ago, a j said: From a rough look I'd say the average service charges/ ground rents in Newcastle are much more than equivalent sized flats I've seen in great London and the South East. You are flipping right, they do look expensive relative! 1 hour ago, a j said: There are some (perhaps due to lifts?) which are well over £3k a year. Maybe that keeps the prices lower? Have you found that? Are you saying that the purchase price of flats are sometimes lower if the service charges are high? Would make sense I guess. Does make anyone in a flat want to keep an on service charges if its affecting valuations 🫣 Have to say it wouldn’t put me off if I liked the area and building but I’d be very conscious of service charges Edited November 2, 2023 by Data Dave Quote Link to comment Share on other sites More sharing options...
a j Posted November 2, 2023 Share Posted November 2, 2023 1 hour ago, Data Dave said: Have you found that? Are you saying that the purchase price of flats are sometimes lower if the service charges are high? Would make sense I guess. Ah, thought I could prove my point and have failed so far! This is an example of the sort of place I was looking at on rightmove: https://www.rightmove.co.uk/properties/141095834#/?channel=RES_BUY. I found loads of them which looked great until seeing the charges. Looking again today most places seem to have more reasonable annual costs. Years ago I pondered a move to Birmingham so had a look around. Some amazing places which were clearly cheaper than older blocks nearby due to the charges. Perhaps there was a period of time when people or mortgage lenders ignored this? Quote Link to comment Share on other sites More sharing options...
Armus Posted November 2, 2023 Share Posted November 2, 2023 (edited) 6 hours ago, a j said: I can swallow £1000 a year. I like outsourcing building works! I see places advertised which are much more expensive for no obvious reason. https://www.rightmove.co.uk/properties/140936567#/?channel=RES_BUY £2k a year for ground rent and service charge. Another one which would be at least £2k: https://www.rightmove.co.uk/properties/141313370#/?channel=RES_BUY The first one is in a good location and is a relatively large building so is somewhat understandable, not that I would want to pay that much. The second one is not in a good area so not sure what is going on there, maybe a big repair bill? Edit - the first one is having extensive fire safety works, probably the reason for the service charge amount. Edited November 2, 2023 by Armus Quote Link to comment Share on other sites More sharing options...
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